Slovakian charter airline AirExplore has permanently ceased operations after 16 years and begun insolvency proceedings, becoming the latest European carrier to fall to worsening economic conditions.
The Bratislava-based airline stopped flying on November 10 and has submitted a formal request to surrender its Air Operator Certificate, bringing an end to a business that developed from a small Slovakian operator into an internationally recognised provider of aircraft, crew, maintenance and insurance — or ACMI — services, leasing Boeing 737s to other airlines during peak seasons and flight disruptions.
AirExplore began operations in 2010 with a Boeing 737-400 before expanding its fleet with Boeing 737-800s, and was acquired by Avia Solutions Group in June 2023. At the time of its grounding it operated an all-Boeing fleet comprising three Boeing 737-800 passenger aircraft and two 737-800 freighters, according to Planespotters.net. Earlier this year Avia Solutions Group moved to integrate AirExplore’s management and back-office functions with fellow group subsidiary KlasJet.
The carrier’s total debt nearly doubled from 12 million euros at the end of 2025 to 22.4 million euros, roughly $25 million, by the end of last year, ch-aviation reported. AirExplore reported a net loss of approximately 22.4 million euros in 2025 on revenues of approximately 109 million euros. Slovak media reported plans to lay off 109 of roughly 160 employees.
Spanish charter airline AlbaStar also halted operations on November 10, saying the stoppage was temporary while it looks for new investors. No immediate disruption to the winter flight schedule is expected from AirExplore’s closure, as the airline was operating only a limited number of charter contracts at the time of the shutdown.
